Is only a 7% growth in China cause for concern?

When the world’s second largest economy sets its GDP growth for 2015 at 7%, the lowest in a quarter of a century (as reported by PRW), does this cause us cause for concern?  Part of the issue is that exports from China missed their target for the third year running, although there was still a 4.9% growth, a figure that many European countries would grab with both hands.Bunting, Magnetic Separation, Paul Fears Photography[polldaddy poll=8714894]

With the European economy stagnant, where can exporters target growth?  In another PRW article, the BCC is reported as stating that more exporters are the key to UK success, but they do not give any indication as to the key overseas markets.

China has been seen as the driving force of the World economy for the past decade, but is that now changing and will there be a greater emphasis on other markets such as India and South America?  The solid North American market is also a very attractive proposition for exporters.

Recently, we [Bunting] shipped a large order for Magnetic Separators to Italy for a project in Indonesia, highlighting the opportunities for business in other developing nations.

Nevertheless, are these latest statistics from China cause for concern?  Your feedback is welcomed.